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Greece repays ECB after tapping fresh bailout funds

2015-08-20 44 Dailymotion

Greece has repaid 3.2 billion euros to the European Central Bank after Athens received the first emergency loans agreed under the country’s third bailout.<br /><br /> Greek officials say they received thirteen billion euros of the 26-billion-euro tranche this morning.<br /><br /> Another 10 billion euros will be used to stabilise the country’s banking sector.<br /><br /> The remaining three billion euros will be paid out in November.<br /><br /> The total bailout is worth 86 billion euros.<br /><br /> Today’s disbursement comes after a number of eurozone parliaments agreed yesterday to back the deal struck with Greece’s international creditors last month.<br /><br /> Conditions include fresh tax hikes and spending cuts, as well as a wave of privatisations.<br /><br /> The country has already received 240 billion under two previous bailouts.<br /><br /> The IMF, however, has concerns that Greece will never recover without “substantial” debt relief.<br /><br /> The global firefighting fund to help troubled economies says it will not come on board with the new bailout until Gr

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